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Corporate Valuation : A Guide for Managers and Investors - 04 edition

Corporate Valuation : A Guide for Managers and Investors (ISBN10: 0324274289; ISBN13: 9780324274288)
ISBN13: 978-0324274288
ISBN10: 0324274289

Summary: This book has two significant advantages relative to other books and software on the topic of valuation. First, the expository approach of the authors is very user-friendly, with a pedagogy designed to build confidence. They begin with a very simple, but complete example in the first couple of chapters that takes the reader through the valuation of a company. They repeat the analysis for a slightly more complicated company in chapters 3-4. A repeat of the analysis is
then completed in chapters 5-8 for an even more complicated company. This iterative approach allows the reader to absorb "digestible" amounts of material before moving on to the next level of complication. The second pedagogic advantage is the structure of their spreadsheet valuation model. They show the reader how to get real world data, and how to cut-and-paste it into their spreadsheet. The spreadsheet simplifies the complex accounting found in most actual companies' financial statements and condenses it into a simplified set of standardized financial statements. This allows the user to concentrate on the fundamental economic forces that underlie a company's value.

Benefits:
  • Initial chapters are simple enough for readers with minimum background in accounting and finance, and subsequent chapters develop sophisticated skills in projecting financial statements and evaluating cash flows for actual companies.
  • Builds a complete valuation framework as applied to a very simple company. Then progresses to slightly more complex companies, and ultimately leads the reader through the valuation of actual company with user-friendly spreadsheet-based valuation model that accompanies the book.
  • The audience for this product falls across a range --- from the novice investor to the professional analyst to the corporate manager to the academic professor teaching investments, corporate finance, or valuation-oriented accounting courses.
...show more
Summary: This book has two significant advantages relative to other books and software on the topic of valuation. First, the expository approach of the authors is very user-friendly, with a pedagogy designed to build confidence. They begin with a very simple, but complete example in the first couple of chapters that takes the reader through the valuation of a company. They repeat the analysis for a slightly more complicated company in chapters 3-4. A repeat of the analysis is then completed in chapters 5-8 for an even more complicated company. This iterative approach allows the reader to absorb "digestible" amounts of material before moving on to the next level of complication. The second pedagogic advantage is the structure of their spreadsheet valuation model. They show the reader how to get real world data, and how to cut-and-paste it into their spreadsheet. The spreadsheet simplifies the complex accounting found in most actual companies' financial statements and condenses it into a simplified set of standardized financial statements. This allows the user to concentrate on the fundamental economic forces that underlie a company's value.

Benefits:
  • Initial chapters are simple enough for readers with minimum background in accounting and finance, and subsequent chapters develop sophisticated skills in projecting financial statements and evaluating cash flows for actual companies.
  • Builds a complete valuation framework as applied to a very simple company. Then progresses to slightly more complex companies, and ultimately leads the reader through the valuation of actual company with user-friendly spreadsheet-based valuation model that accompanies the book.
  • The audience for this product falls across a range --- from the novice investor to the professional analyst to the corporate manager to the academic professor teaching investments, corporate finance, or valuation-oriented accounting courses.
...show less

Edition/Copyright: 04
Cover: Paperback
Publisher: South-Western Publishing Co.
Year Published: 2004
International: No

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